GXO Logistics Flexes Its Muscles During the Holidays
If there was any doubt about the wisdom of GXO Logistics' (NYSE: GXO) spin-off from XPO Logistics (NYSE: XPO) last August, GXO's fourth-quarter report put it to rest.
The contract logistics giant breezed past its own guidance and investor estimates in the fourth quarter, executing well during a holiday season when many companies faced challenges with supply chain constraints and labor shortages. Overall revenue jumped 28% to $2.26 billion, well ahead of estimates at $2.05 billion, with organic growth of 19%, an impressive clip for a company operating in a mature industry like transportation and logistics.
Growth in e-commerce kept pace with the strong performance, with 45% growth in e-commerce revenue and a 28% jump in reverse logistics, or processing returns. Those are two core growth markets for the company, and its e-commerce, omnichannel and consumer tech segment now makes up more than half of revenue.
Source Fool.com
